The fifteenth trading week of 2014 comes to a close with US Markets
sharply lower in late afternoon trading. Big names such as JP
Morgan Chase, General Motors, J.C. Penney and Advanced Micro
Devices are taking a hit.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for
April 11, 2014.
The Dow Jones Industrial Average, S&P 500 and the NASDAQ are
all significantly lower for the week.
Crude oil futures are higher this week, trading at $103.71 per
barrel on Friday afternoon.
And Gold futures are also higher this week, trading at $1319 an
ounce on Friday afternoon.
In economic news, in February, consumer credit increased at a
seasonally adjusted annual rate of 6-1/2 percent. Revolving credit
decreased at an annual rate of 3-1/2 percent, while nonrevolving
credit increased at an annual rate of 10 percent.
The U.S. Census Bureau announced that February 2014 sales of
merchant wholesalers, except manufacturers' sales branches and
offices, after adjustment for seasonal variations and trading-day
differences but not for price changes, were $436.1 billion, up 0.7
percent from the revised January level and were up 3.1 percent from
the February 2013 level. The January preliminary estimate was
revised downward $0.1 billion. February sales of durable goods were
up 0.1 percent from last month and were up 2.9 percent from a year
ago. Sales of nondurable goods were up 1.2 percent from January and
were up 3.3 percent from last February. Sales of petroleum and
petroleum products were up 4.0 percent from last month and sales of
beer, wine, and distilled alcoholic beverages were up 1.9 percent.
Total inventories of merchant wholesalers, except manufacturers'
sales branches and offices, after adjustment for seasonal
variations but not for price changes, were $518.3 billion at the
end of February, up 0.5 percent from the revised January level and
were up 4.7 percent from the February 2013 level. The January
preliminary estimate was revised upward $0.3 billion or 0.1
In corporate dividend news, Weyerhaeuser Company (
) declared a dividend of $0.22 per share on the Common Stock of the
company, payable in cash on May 30, 2014 to holders of record of
such common shares at the close of business on May 9, 2014.
Ford Motor Company declared a second quarter dividend of $0.125 per
share on the company's outstanding Class B and common stock. This
is the same level of dividend paid in the first quarter of 2014,
which is a 25 percent increase from the level of dividend paid in
each quarter of 2013. The second quarter dividend is payable on
June 2, 2014 to shareholders of record on May 2, 2014.
And, Lennar Corporation (
) announced that its Board of Directors has declared a quarterly
cash dividend of $0.04 per share for both Class A and Class B
common stock payable on May 7, 2014 to holders of record at the
close of business on April 23, 2014.
This is the 'Weekly Market Wrap' for Friday, April 11, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: April 11, 2014